Cloudcall's FY pretax loss edges wider as sales trend accelerates
Shares in Cloudcall are down almost 1% after posting a marginally wider full-year pre-tax loss, but the company says its accelerating sales trend of 2016 is continuing into 2017.
Cloudcall Group
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At 10:26 GMT, shares in AIM-quoted Cloudcall were down 0.97% to 102p each. Pre-tax loss for the year was £3.8m, from £3.7m, on improved revenue of £4.9m, from £3.3m.
The company said current trading was in line with market expectations.
"I am pleased to report that 2016's accelerating sales trend has continued since the year-end, with February delivering record sales from both new and existing customers," said chief executive Simon Cleaver.
"The encouraging revenue growth since the year-end combined with the strong January and February sales provides a solid base for the year and gives me considerable confidence in our ability to deliver in 2017," he commented.
Cleaver was also increasingly confident that the group's plans for the coming year would enable it to continue towards its objective of reaching break-even.
The company also noted its sharper strategic focus and operational improvements taken during 2016 were now delivering higher sales, improved efficiencies and greater customer satisfaction and retention.
Non-executive chairman Peter Simmonds said, based on this upturn in the second half of 2016 and the current levels of sales pipeline, directors viewed the prospects for 2017 with increased confidence both in terms of growth in monthly recurring revenues and enhanced brand reputation.
"The pathway to EBITDA break-even is now clearly within our sights as we continue to win new customers underpinned by an ever-increasing foundation of recurring revenue."